Zevenbergen Capital Investments LLC Sells 54,656 Shares of Symbotic Inc. (NASDAQ:SYM)

Zevenbergen Capital Investments LLC cut its stake in Symbotic Inc. (NASDAQ:SYM) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 733,436 shares of the company’s stock after selling 54,656 shares during the quarter. Zevenbergen Capital Investments LLC owned 0.12% of Symbotic worth $17,390,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYM. IFP Advisors Inc increased its position in Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after acquiring an additional 503 shares during the last quarter. Private Trust Co. NA purchased a new position in shares of Symbotic during the 4th quarter valued at about $47,000. Jones Financial Companies Lllp grew its stake in shares of Symbotic by 154.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock valued at $58,000 after acquiring an additional 1,490 shares during the period. Quest Partners LLC lifted its holdings in Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after purchasing an additional 2,510 shares in the last quarter. Finally, MCF Advisors LLC purchased a new stake in shares of Symbotic in the fourth quarter worth $85,000.

Analysts Set New Price Targets

A number of research firms have issued reports on SYM. Craig Hallum downgraded Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research note on Wednesday, November 27th. TD Cowen increased their price objective on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, January 8th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. Finally, Raymond James cut Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Symbotic has an average rating of “Hold” and an average target price of $38.20.

Symbotic Stock Performance

Shares of SYM opened at $22.39 on Monday. The business’s 50-day moving average is $26.08 and its two-hundred day moving average is $26.60. The company has a market capitalization of $13.17 billion, a P/E ratio of -319.81, a P/E/G ratio of 6.48 and a beta of 1.85. Symbotic Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $50.41.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. Analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Insider Buying and Selling

In other Symbotic news, insider Michael David Dunn sold 1,971 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $30.00, for a total value of $59,130.00. Following the transaction, the insider now owns 22,301 shares in the company, valued at approximately $669,030. This trade represents a 8.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William M. Boyd III sold 2,455 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $22.31, for a total value of $54,771.05. Following the completion of the transaction, the insider now owns 39,659 shares of the company’s stock, valued at $884,792.29. The trade was a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,442 shares of company stock worth $2,120,023 in the last 90 days. Insiders own 0.60% of the company’s stock.

About Symbotic

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.